Online casinos have been around for several years, and they offer palpable advantages when compared to traditional fiat-based local casinos. However, there are several disadvantages that make the market less appealing to potential gamblers. These include lack of trust, a need to submit personal information, or the inability to access these websites due to local laws that forbid gambling.
During the last couple of years, cryptocurrency casinos have started disrupting the market, by providing online casino customers with safer platforms, where they can easily wager money without breaking laws, or having to submit personal data. Blockchain integration within the online casino market has made it safer, and has increased the number of players throughout the world. This article outlines several advantages associated with crypto gambling:
- Full player anonymity
Since you do not deal with fiat money, neither players, nor blockchain casinos have to comply with gambling-related regulations. This means that most crypto-based casinos do not ask users for personal information. In fact, many of the platforms don’t even ask users to register an account. This benefit entails that theoretically, users from all nations can join a crypto casino. The problem appears when a user resides in a country where cryptocurrency usage is illegal, and exchanging back to fiat is not an option.
- Volatility gains and crypto investments
A cryptocurrency casino such as syndicate.casino is also beneficial since it can introduce people to the world of cryptocurrencies. Any win is volatile, therefore it can be treated as a crypto investment. Under the right market conditions, crypto gamblers can regain some of their losses.
- Many blockchain casinos are trustworthy
It’s important to consider the difference between a blockchain-based casino, bitcoin casino online and an online casino which accepts cryptocurrency wagers. The latter is similar to standard online casinos if it fails to integrate blockchain technology. However, doing so, means that casinos can provide users with immutable and transparent data pertaining to their wagers, other gamblers’ wagers, but most importantly, a provably fair protocol. While playing on a provably fair casino, users can instantly check whether their bet results were correctly calculated. This means that no provably fair casino will risk tinkering with a user’s bets to induce a loss. However, blockchain technology won’t magically lead to bigger wins for players – just a reassurance that they’re not being cheated. Games like bitcoin slots are still made to respect the house edge.